CMS Energy (CMS) will raise its quarterly dividend by 7.0 percent to $0.3825 per share in the first quarter of 2019. This marks the 12th consecutive year of dividend increases by the utility company.

The first quarter dividend for the common stock is payable February 28, 2019, to shareholders of record on February 1, 2019. The new annual dividend yields 3.0 percent at the current stock price.

Patti Poppe, CMS Energy's president and chief executive officer, said the Board's decision to increase the current dividend to $1.53 per share on an annualized basis reflects the successful execution of the company's business strategy.

"We continue to execute our Triple Bottom Line strategy of people, planet and profit," Poppe said. "We are taking actions to protect the environment, better serve our customers and strengthen our business, providing higher stock dividends that benefit our investors."

CMS Energy is a Michigan-based company that has an electric and natural gas utility, Consumers Energy, as its primary business and also owns and operates independent power generation businesses. Consumers serves individuals and businesses operating in the alternative energy, automotive, chemical, metal, and food products industries, as well as a group of other industries.